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of the economic committee in the obama administration, her and her husband came out with reports and studies years ago. when you lower taxes, it encourages businesses to put more money into the economy and hire and individuals to put more money into the economy and spend. [ overlapping speaking ] >> all else being equal, lower taxes are definitely better than higher taxes. i don't dispute that. nobody disputes that. all else isn't equal. if you finance those tax cuts for the rich with huge amounts of debt as george w. bush did and as mitt romney is proposing, you're going to end up with slower growth. that's what we've got over the last ten years. there's no reason to believe any different. >> with we certainly have that over the last three years. >> exactly. >> let me ask you this, diana. >> pause, pause, pause. timeout. when the president took office, the economy was contracting by 9% annual. it's now growing. don't tell me the economy is growing slower than when the president took office. that's not true. >> in the last year and the year before. the last three years is what i'm referring to. >>
asked the obama administration to pull the ad because they felt it was doing an injustice to "sesame street." i think separately from this, some context. obama raised $181 million in september. the $3 million swing from 2008 that wall street gave to obama and the $3 million it's now giving to romney, it's significant as a swing, but i don't think we should overstate the impact this will have electorally. on a deeper level, wall street is a contracting industry. that is simply a product of 2008. i think that would have happened regardless of whether or not mccain or obama had won. there is a degree of looking for a source of blame rather than, you know, this is a troubled time for wall street. again, i think that has a lot to do with the dynamics of the high levels of profitability wall street achieved 2004 through 2008. >> i see it as, here's an ad, and it makes the public look stupid. larry, you think they've gone too far in this. why? >> i wrote a book and outed a lot of the bad guys. i'm here to tell you that the democrats have essentially used the financial crisis as this massive
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